Exhibit 99.2

   GUESS?, INC. ANNOUNCES TWO-FOR-ONE STOCK SPLIT AND INITIATES QUARTERLY CASH
                                    DIVIDEND

    LOS ANGELES, Feb. 14 /PRNewswire-FirstCall/ -- Guess?, Inc. (NYSE: GES)
announced today that its Board of Directors has approved a two-for-one stock
split of the Company's common stock.  The stock split will be effected in the
form of a 100 percent stock dividend to shareholders of record at the close of
business on February 26, 2007.  Stockholders will receive one additional share
for each share held on that date.  The additional shares will be distributed
beginning March 12, 2007.

    In a separate action, the Board of Directors has also authorized the
initiation of a quarterly cash dividend of $0.12 per share on the Company's
common stock.  The first quarterly dividend is payable on March 12, 2007 to
shareholders of record as of the close of business on February 26, 2007.
Because the record date for the first quarterly dividend precedes the
distribution date for the stock split, the cash dividend amount will be on a
pre-split basis.  While the Company intends to pay regular quarterly dividends
for the foreseeable future, all subsequent dividends will be reviewed
quarterly and declared by the Board of Directors at its discretion.  Any
future dividends will be adjusted for the split.

    "We are pleased to announce the two-for-one stock split and the initiation
of a quarterly cash dividend," said Carlos Alberini, President and Chief
Operating Officer.  "These actions reflect our confidence in our Company and
recognize our solid financial performance and strong balance sheet.  We
believe that these actions will result in increased trading liquidity and a
broader investor base in the future."

    Guess?, Inc. designs, markets, distributes and licenses a lifestyle
collection of contemporary apparel, accessories and related consumer products.
At February 3, 2007 the Company operated 334 retail stores in the United
States and Canada.  The Company also distributes its products through better
department and specialty stores around the world.  For more information about
the Company, please visit www.guessinc.com.

    Except for historical information contained herein, certain matters
discussed in this press release, including statements concerning the Company's
intention to pay regular quarterly dividends for the foreseeable future, are
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are only expectations, and involve known and
unknown risks and uncertainties, which may cause actual results in future
periods to differ materially from what is currently anticipated.  Factors
which may cause actual results in future periods to differ materially from
current expectations include the business judgment of the Board of Directors
to declare future dividends, as well as our ability to, among other things,
declare future dividends in compliance with applicable laws, successfully
integrate and expand our newly acquired Focus business, anticipate consumer
preferences, effectively operate our retail stores, effectively manage
inventories, successfully execute our strategies, including our supply chain
and international growth strategies, and domestic and international general
economic conditions and consumer confidence.  In addition to these factors,
the economic and other factors identified in the Company's most recent annual
report on Form 10-K and other filings with the Securities and Exchange
Commission, including but not limited to the risk factors discussed therein,
could cause actual results to differ materially from current expectations.

    Contacts:  Carlos Alberini
               President & Chief Operating Officer
               (213) 765-3582

               Dennis R. Secor
               SVP & Chief Financial Officer
               (213) 765-3289

               Joseph Teklits
               Integrated Corporate Relations
               (203) 682-8258

SOURCE  Guess?, Inc.
    -0-                             02/14/2007
    /CONTACT:  Carlos Alberini, President & Chief Operating Officer,
+1-213-765-3582, or Dennis R. Secor, SVP & Chief Financial Officer,
+1-213-765-3289, both of Guess?, Inc.; or Joseph Teklits of Integrated
Corporate Relations, +1-203-682-8258, for Guess?, Inc./
    /Web site:  http://www.guessinc.com /
    (GES)